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1950-51 Estimates It is now time to consider what are the estimated proceeds for this year from taxation and other current receipts and how it is proposed that they shall be applied. The estimated receipts of the Consolidated Fund and the Social Security Fund taken together areConsolidated Fund — £ £ Customs - • • • 22,900,000 Beer duty . . • • 4,750,000 Sales tax . . • . 15,250,000 Film-hire tax . . . . 110,000 Highways . • • • 3,925,000 Stamp duty . . . • 9,674,000 Land-tax . . . . 900,000 Income-tax . . . . 56,500,000 114,009,000 Interest .. . . • • 6,472,000 Profits of trading undertakings 1,994,000 Departmental receipts .. 10,201,000 132,676,000 Less transfer to Social Security Fund .. 14,000,000 118,676,000 Social Security Fund — Social security charge . . 35,000,000 Miscellaneous receipts .. 114,000 Transfer from Consolidated Fund . . .. 14,000,000 49,114,000 £167,790,000 The estimate for income-tax is set down at £8 million more than was collected last year. This increase is based on generally buoyant conditions, but particularly the substantial increase in wool prices. With large increases in requirements for defence and rising costs of social services the additional revenue is welcome, but as the source of it is unlikely to be stable it is not a good basis for increasing rigid expenditure commitments. In another year we may suffer an equally large fall in revenue. Apart from a not-unexpected rise of about £2 million in Customs duties and sales-tax estimates, there are no other changes in the Consolidated Fund revenue which call for comment.

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